GERMANY AND AUSTRIA TO TAP OIL RESERVES AFTER 400 MILLION BARRELS REQUESTED. (PHOTO).

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 Germany and Austria to tap oil reserves after 400 million barrels requested  Germany and Austria announced they are releasing portions of their oil reserves in response to an International Energy Agency request for member nations to collectively release 400 million barrels to help ease rising energy prices linked to the Iran conflict. Japan also said it will begin releasing part of its reserves starting Monday. The move marks one of the largest coordinated releases of emergency oil stocks in history. The previous record came in 2022, when IEA members released 182.7 million barrels following the energy disruptions caused by Russia’s invasion of Ukraine. Member countries currently hold over 1.2 billion barrels of public emergency oil stocks, along with an additional 600 million barrels of industry stocks maintained under government requirements. The release comes amid heightened tensions in the Persian Gulf, where Iran has targeted commercial ships and disrupted shipping throug...
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LABOUR PARTY REPS DISMISS SUSPENSION, ACCUSE ABURE OF DESPERATION POST-COURT RULING. (PHOTO).

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 Labour Party Reps dismiss suspension, accuse Abure of desperation post-court ruling


Three members of the House of Representatives under the Labour Party (LP) have rejected their reported suspension from the party, describing the move as both baseless and desperate. They claim it is a ploy by embattled former National Chairman, Julius Abure, to remain politically relevant following his removal by the Supreme Court.


In a strongly worded joint statement issued on Thursday, Leader of the Labour Party Caucus in the House; Hon. Afam Victor Ogene, Deputy Leader, Hon. Seyi Sowunmi, and a caucus member,  Hon. Amobi Ogah, accused Abure of attempting to destabilize the party rather than rebuild it. The lawmakers described their alleged suspension as "laughable," asserting that Abure no longer holds legitimate authority within the party following the apex court’s decision that effectively ended his tenure.


They further criticized Abure's recent announcements, which also purportedly included the suspension of Abia State Governor Alex Otti, Senator Ireti Kingibe, and Senator Darlington Nwokocha, who is also Secretary of the National Caretaker Committee. “The recent actions of Julius Abure amount to a desperate overreach by someone unwilling to accept the end of his tenure,” the lawmakers said. “Rather than contributing positively to the party’s growth since the 2023 elections, Abure has presided over what can only be described as a series of political missteps and internal conflicts.”


Highlighting what they called a string of electoral failures under Abure’s leadership, the legislators cited poor performances in Kogi, Bayelsa, Ondo, and even Abure’s home state of Edo. They also accused him of financial impropriety, claiming he ran the party “like a criminal enterprise,” exploiting aspirants for money in exchange for tickets. “The so-called suspension is an act of desperation by someone clinging to relevance. The Labour Party should be focused on its constitutional role in advancing democratic ideals, not embroiled in personality-driven feuds,” they added.


The lawmakers concluded their statement by expressing hope that the party would move past the current leadership crisis and focus on institutional growth and integrity. The Labour Party has yet to issue a formal response to the lawmakers’ claims as of press time.

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